Japan, India to expedite N-talks, expand economic ties news
29 May 2013

India and Japan have agreed to speed up talks on a deal to allow Japan to export nuclear plants and to step up economic cooperation as both sides take their strategic cooperation to even higher levels.

Japanese prime minister Shinzo Abe and his Indian counterpart Manmohan Singh resolved to further consolidate and strengthen their strategic partnership even as the two countries continue their mutually beneficial economic cooperation in the changing strategic environment.

During talks with visiting India prime minister Manmohan Singh, Japanese prime minister Shinzo Abe reaffirmed Japan's commitment to continue its Official Development Assistance (ODA) at a substantial level to encourage India's efforts towards social and economic development, including in the area of infrastructure and human resource development.

Japan and India also exchanged notes for loans totalling 71 billion yen for the `Mumbai Metro Line-III project', as well as the yen loan of the fiscal year 2012 totalling 353.106 billion yen for eight projects.

Japan will also provide assistance of 17.7 billion yen for the campus development project of the Indian Institute of Technology, Hyderabad (Phase 2) and another 13 billion yen for the `Tamil Nadu Investment Promotion Programme'.

Noting that the Comprehensive Economic Partnership Agreement (CEPA) has given a fillip to economic and trade relations between the two countries, the two prime ministers stressed the importance of continued efforts to further enhance trade in goods and services as well as investments.

The two sides reviewed the rapid progress made in absorbing next generation technologies through the Smart Community Projects and directed the relevant authorities to vigorously accelerate implementation of the seawater desalination project at Dahej in Gujarat, the model solar project in Neemrana in Rajasthan, and the gas-fired independent power producer (IPP) project in Maharashtra.

They welcomed the outcome of the preliminary study conducted by JICA for a comprehensive integrated master plan of the region and the signing of the terms of reference for the Chennai-Bengaluru Industrial Corridor (CBIC). The two prime ministers hope to develop a master plan for the project by the end of the end of the current fiscal.

Prime minister Manmohan Singh expressed interest in cooperating with Japan in extraction of natural gas from methane hydrate deposits under the sea. They reaffirmed the importance of India-Japan Energy Forum to be held in India in September 2013 by JETRO, NEDO and TERI, including an exhibition to showcase Japanese technology in energy sector.

Alongside their economic cooperation, the two sides also resolved to continue their political and defence dialogue at the ministerial level, following the successful conclusion of the "2 plus 2'' dialogue, foreign secretary level dialogue, foreign office consultations, defence policy dialogue, the trilateral dialogue between India, Japan and the United States, as well as other key interactions on various areas, including cyber, counter-terrorism and economic partnership.

As part of their defence cooperation, the Indian Navy and the Japan Maritime Self-Defense Force (JMSDF) will conduct joint exercises on a regular basis, with increased frequency. They also decided to establish a joint working group (JWG) to explore modality for the cooperation on the US-2 amphibian aircraft.

Meanwhile, the emperor and empress of Japan will visit India as state guests from the end of November to early December. The two prime ministers confirmed that the two governments would make necessary preparations and coordination with a view to realising their visit.

 search domain-b
Japan, India to expedite N-talks, expand economic ties